A builder has claimed in the High Court that the auctioneers and estate agentsâ watchdog wrongly refused to compensate him for money paid to an agent whose operating licence had expired.
Cannice Martin, a groundworks contractor, has challenged a decision of the Property Services Appeals Board to disallow his appeal against a decision of the Property Services Regulatory Authority (PSRA) to refuse him compensation.
Mr Martin, from Keady in Co Armagh, says he lost â¬12,500 to Edward Paul Nugent Ltd, Castleblayney, Co Monaghan, which was a deposit paid to the auctioneer.
He says he was approached by Nugents in relation to the sale of the lands at a time when the firm had failed to renew its auctioneersâ licence and knowing it was about to expire. It also knew or ought to have known at the time it was insolvent, he claims. The firm, which also operated Castleblayney Mart, later went into liquidation.